Power utility Historical case study · data as of 08 Jul 2026 · published 11 Oct 2026 (95 days later)

Tata Power — 100-point case study

How Tata Power looked on 50 technical and 50 fundamental measures on 08 Jul 2026 — and what happened over the next three months. Education only; not a current view.

Codes	NSE: TATAPOWER · BSE: 500400
Close on 08 Jul 2026	₹372.10
Market cap then	₹1,18,951 crore
Valuation	P/E 23.2× · P/B 3.01×
Momentum	RSI (14) 28 · 1-year return -7.2%
Next 3 months	-8.0% vs Nifty 50 -5.7% (to 09 Oct 2026)

Scorecard

Technical — 50 points

5 bullish · 19 neutral · 3 caution · 22 bearish — the picture leaned negative.

Fundamental — 50 points

8 bullish · 31 neutral · 1 caution · 9 bearish — the picture was mixed.

Price chart

Close (to snapshot) Close (after) 50-day avg 200-day avg Support Resistance

Technical analysis — 50 points

Calculated by code from daily prices up to 08 Jul 2026. Standard formulas (RSI, MACD, ADX use Wilder smoothing).

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Trend

#	Point	Reading	Tag	Commentary
1	Short-term trend (20 days)	slope -0.39%/day	Bearish	Over the last 20 sessions the regression line of closing prices was falling about 0.39% a day — a short-term downtrend. Bullish slope above +0.10% a day (short-term uptrend) · Bearish slope below –0.10% a day (short-term downtrend) · Neutral between the two: a flat, sideways phase.
2	Medium-term trend (~5 months)	3M return -3.1%	Bullish	The 100-session trend line was up (+0.06%/day) and the stock was -3.1% over three months, so the medium-term picture was bullish. Bullish slope above +0.05% a day · Bearish slope below –0.05% a day · Neutral in between.
3	Long-term trend (1 year)	1Y return -7.2%	Neutral	Compared with a year earlier the price was -7.2%. Little net progress over twelve months. Bullish up more than 10% in a year · Bearish down more than 10% in a year · Neutral between –10% and +10%.
4	Weekly chart trend	10W 401.40 / 30W 391.84	Neutral	On the weekly chart the stock showed a weekly close tangled between the 10-week and 30-week averages. Bullish weekly close above the 10-week average, which is above the 30-week · Bearish weekly close below the 10-week average, which is below the 30-week · Neutral when they are tangled.
5	Swing structure (highs/lows)	last highs 434.00→407.60; lows 390.80→388.00	Bearish	The two most recent swing points showed lower swing highs and lower swing lows — classic downtrend structure. Bullish higher highs and higher lows (uptrend structure) · Bearish lower highs and lower lows (downtrend structure) · Neutral when one is higher and the other lower.
6	ADX (14) — trend strength	28.8	Bearish	ADX at 28.8 shows a trend of moderate strength. ADX measures strength only, not direction. Bullish ADX 20 or more with +DI above –DI (a real trend, pointing up) · Bearish ADX 20 or more with –DI above +DI (a real trend, pointing down) · Neutral below 20: no clear trend. 20–30 is a moderate trend, above 30 a strong one.
7	+DI vs –DI	+DI 12.5 / –DI 31.3	Bearish	–DI was above +DI: sellers had the upper hand in directional movement. Bullish +DI above –DI · Bearish –DI above +DI · No neutral zone for this point.

B. Moving averages

#	Point	Reading	Tag	Commentary
8	Price vs 20-day SMA	390.19 (-4.6%)	Bearish	Close of 372.10 was 4.6% below the 20-day SMA — the short-term trend filter was negative. Bullish close above the average · Bearish close below the average · No neutral zone.
9	Price vs 50-day SMA	409.81 (-9.2%)	Bearish	Close of 372.10 was 9.2% below the 50-day SMA — the medium-term trend filter was negative. Bullish close above the average · Bearish close below the average · No neutral zone.
10	Price vs 200-day SMA	392.27 (-5.1%)	Bearish	Close of 372.10 was 5.1% below the 200-day SMA — the long-term trend filter was negative. Bullish close above the average · Bearish close below the average · No neutral zone.
11	9 / 21 EMA crossover	9E 380.15 / 21E 389.44	Bearish	The 9-day EMA was below the 21-day EMA; the last crossover happened on 14 May 2026. Bullish 9-day above 21-day · Bearish 9-day below 21-day · No neutral zone.
12	Golden / death cross (50 vs 200)	last golden cross 21 Apr 2026	Bullish	The 50-day average was 4.5% above the 200-day. The most recent signal was a golden cross on 21 Apr 2026. Bullish 50-day above 200-day (after a “golden cross”) · Bearish 50-day below 200-day (after a “death cross”) · No neutral zone.
13	50-day SMA slope	-1.5% in 20 sessions	Bearish	The 50-day average fell 1.5% over the past month — declining. Bullish rose more than 0.5% · Bearish fell more than 0.5% · Neutral in between: flattening.
14	MA ribbon alignment	390 / 410 / 401 / 392	Neutral	The 20/50/100/200-day averages were tangled — no clean order, typical of a transition or range. Bullish neatly stacked 20 > 50 > 100 > 200 · Bearish neatly stacked 20 < 50 < 100 < 200 · Neutral when tangled (a transition or range).
15	Monthly anchored VWAP	376.87 (-1.3%)	Bearish	Anchored to the start of July, the volume-weighted average price was 376.87; the close was below it — buyers that month were on average under water. Bullish close above VWAP (that month’s buyers on average in profit) · Bearish close below VWAP · No neutral zone.

C. Momentum

#	Point	Reading	Tag	Commentary
16	RSI (14)	27.9	Caution	RSI at 27.9 was oversold (≤30) — weak but stretched to the downside, where bounces often occur. Bullish RSI 55–70 (positive momentum, not stretched) · Bearish RSI 30–45 (soft momentum) · Neutral 45–55. Caution at 70 or above (overbought) or 30 or below (oversold).
17	RSI divergence (last 40 days)	none	Neutral	Comparing the last 20 sessions with the 20 before: no divergence — RSI moved in line with price. Bullish bullish divergence: price made a lower low but RSI a higher low · Caution for a bearish divergence (price higher high, RSI lower high). Neutral when RSI moved in line with price.
18	MACD line vs signal	MACD -9.42 / signal -7.96	Bearish	MACD was below its signal line — momentum turning or staying negative. Bullish MACD above signal · Bearish MACD below signal · No neutral zone.
19	MACD histogram (5-day change)	-2.07 → -1.46	Bullish	The histogram rose over the last five sessions, meaning momentum was improving. Bullish histogram rising (momentum improving) · Bearish histogram falling (momentum weakening) · No neutral zone.
20	MACD vs zero line	-9.42	Bearish	MACD below zero means the 12-day EMA was below the 26-day EMA — a negative momentum regime. Bullish MACD above zero · Bearish MACD below zero · No neutral zone.
21	Stochastic (14,3,3)	%K 8.9 / %D 7.9	Caution	Slow stochastic at 8.9 was in oversold territory (<20). Bullish between 20 and 80 with %K above %D · Bearish between 20 and 80 with %K below %D · Caution above 80 (overbought) or below 20 (oversold).
22	Williams %R (14)	-94.7	Caution	%R of -94.7 put the close near the bottom of its 14-day range. How to read: Caution above –20 (near the top) or below –80 (near the bottom). Neutral in the middle. This point is never tagged Bullish or Bearish.
23	CCI (20)	-127	Bearish	CCI at -127 signalled an unusually strong downward deviation (<–100). Bullish above +100 (unusually strong upward move) · Bearish below –100 (unusually strong downward move) · Neutral within ±100.
24	Rate of change (10-day)	-6.6%	Bearish	Price changed -6.6% over ten sessions. Bullish up more than 2% · Bearish down more than 2% · Neutral between –2% and +2%.

D. Volatility

#	Point	Reading	Tag	Commentary
25	Bollinger Band position (%B)	%B 0.10 (bands 367.45–412.93)	Neutral	%B of 0.10 — inside the bands, lower half. How to read: Caution above 1 or below 0 (outside the bands — an overextended move). Neutral inside the bands.
26	Bollinger width / squeeze	width 11.7% (58th pct of 6M)	Neutral	Band width was at the 58th percentile of the last six months, a normal level. How to read: Caution when the width is in the lowest 15% of six months (a “squeeze” that often comes before a bigger move, direction unknown). Neutral otherwise.
27	ATR (14)	₹7.60 (2.0% of price)	Neutral	A typical day's range was about ₹7.60, or 2.0% of the price — useful for judging how much 'normal noise' to expect. How to read: Information only. A higher % means bigger normal daily swings.
28	Historical volatility (30-day)	17.5% vs 1Y 20.8%	Neutral	Annualised 30-day volatility was 17.5%, close to the one-year level of 20.8%. How to read: Caution when 30-day volatility is more than 1.25× the one-year level. Neutral otherwise.
29	Keltner Channel (20, 2×ATR)	374.43–403.18	Bearish	The close was below the lower channel — a strong trending push. Bullish close above the upper channel (strong upward push) · Bearish close below the lower channel · Neutral inside the channel.
30	Beta vs Nifty 50 (1Y daily)	0.79	Neutral	A beta of 0.79 means the stock tended to move less than the Nifty 50 day to day. How to read: Information only. Above 1.1 moves more than the market, below 0.9 less, around 1 in line.

E. Volume & money flow

#	Point	Reading	Tag	Commentary
31	Volume vs 20-day average	last day 0.81× / 5-day 0.96×	Neutral	The final session traded 0.81× its 20-day average volume and the last five sessions averaged 0.96× — normal participation. How to read: Information only. Above 1.2× is heavier than usual participation, below 0.8× lighter.
32	Up-day vs down-day volume (20d)	ratio 1.26	Bullish	Average volume on up days was 1.26× that on down days — accumulation-leaning. Bullish ratio above 1.15 (accumulation-leaning) · Bearish ratio below 0.85 (distribution-leaning) · Neutral between 0.85 and 1.15.
33	On-Balance Volume (20d)	OBV falling	Bearish	OBV fell over the month while price fell — volume confirmed the price move. Bullish OBV rising · Bearish OBV falling · No neutral zone.
34	Accumulation/Distribution line	falling (20d)	Bearish	The A/D line fell, meaning closes tended to be in the lower part of daily ranges on meaningful volume. Bullish A/D line rising · Bearish A/D line falling · No neutral zone.
35	Chaikin Money Flow (20)	-0.14	Bearish	CMF at -0.14 indicated net outflows. Bullish above +0.05 (net inflows) · Bearish below –0.05 (net outflows) · Neutral between –0.05 and +0.05.
36	Money Flow Index (14)	40.2	Bearish	MFI, a volume-weighted RSI, was 40.2. Bullish MFI 55–80 · Bearish MFI 20–45 · Neutral 45–55. Caution above 80 (overbought) or below 20 (oversold).
37	Liquidity (avg daily turnover)	₹228 cr/day	Neutral	About ₹228 crore changed hands per day on average over 20 sessions — liquid. How to read: Information only. Above ₹500 crore a day is highly liquid, above ₹50 crore liquid, below that moderately liquid.

F. Price levels

#	Point	Reading	Tag	Commentary
38	Support levels (S1/S2/S3)	358.05 / 348.40 / 342.50	Neutral	Nearest support (prior swing lows) sat at 358.05, 3.9% below the close, then 348.40, 342.50. How to read: Information only. Levels to watch, not good or bad.
39	Resistance levels (R1/R2/R3)	372.30 / 399.91 / 434.00	Neutral	Nearest resistance (prior swing highs) sat at 372.30, 0.1% above the close, then 399.91, 434.00. How to read: Information only.
40	Monthly pivot points (for next month)	P 376.42 \| R1 382.73 \| S1 365.78	Neutral	Classic pivots from July's high/low/close gave a pivot of 376.42; the close was below it. How to read: Information only.
41	Fibonacci retracement (6M swing)	23.6% 436 \| 38.2% 418 \| 50.0% 404 \| 61.8% 389	Neutral	Measuring the 6-month rise from 342.50 to 464.90, the close was nearest the 61.8% retracement at 389.26. How to read: Information only.
42	52-week high / low	H 464.90 / L 342.50	Neutral	The close was 20.0% below the 52-week high and 8.6% above the 52-week low. Bullish within 5% of the 52-week high · Bearish within 5% of the 52-week low · Neutral in between.
43	Unfilled price gaps (6M)	none	Neutral	No unfilled price gaps in the last six months. How to read: Information only.

G. Patterns

#	Point	Reading	Tag	Commentary
44	Price structure / chart pattern	pullback inside a larger uptrend	Neutral	Rule-based pattern scan: pullback inside a larger uptrend. (Classical patterns like head-and-shoulders are judgement calls; we report only what the rules detect.) Bullish rising channel (both trends up) · Bearish falling channel (both trends down) · Neutral for tight consolidation, a bounce in a downtrend, a pullback in an uptrend, or a sideways range.
45	Breakout / breakdown (20-day)	range 373.75–407.60	Bearish	The close was breakdown below the prior 20-day range of 373.75–407.60 — a range break. Bullish close above the 20-day high (breakout) · Bearish close below the 20-day low (breakdown) · Neutral inside the range.
46	Latest candlestick	Ordinary red candle	Neutral	On 08 Jul the candle opened 375.80, ranged 370.10–376.95 and closed 372.10: Ordinary red candle. Single candles are weak signals on their own. Bullish hammer, bullish engulfing or bullish marubozu · Bearish shooting star, bearish engulfing or bearish marubozu · Neutral for a doji, inside bar or ordinary candle. Single candles are weak signals.
47	Ichimoku Cloud	cloud 416.45–423.27; Tenkan 383.00 / Kijun 393.68	Bearish	Price was below the cloud and the Tenkan line was below the Kijun line — a bearish Ichimoku setup. Bullish close above the cloud · Bearish close below the cloud · Neutral inside the cloud.

H. Relative strength & summary

#	Point	Reading	Tag	Commentary
48	Relative strength vs Nifty 50	1M -11.2% / 3M -7.0%	Bearish	The stock underperformed the Nifty 50 by 7.0 points over three months and underperformed by 11.2 points over one month. Bullish ahead of the Nifty 50 by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
49	Relative strength vs Nifty 50 (6M)	6M +7.3%	Bullish	No sector index in today's data set, so we show the 6-month comparison instead: 7.3 points ahead of the Nifty 50. Bullish ahead by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
50	Technical summary	5 bullish · 22 bearish · 19 neutral · 3 caution	Bearish	Across the 49 readings the technical picture leaned negative. Levels that mattered: support 358.05, resistance 372.30. This is a description of the chart on 08 Jul 2026, not a forecast. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 5 or more (“positive”) · Bearish bearish tags beat bullish ones by 5 or more (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

Fundamental analysis — 50 points

Uses only results published by 08 Jul 2026: FY26 annual (Apr 2025–Mar 2026), the Jan–Mar 2026 quarter and the Mar 2026 shareholding. ₹ crore, consolidated unless stated. Valuation uses the 08 Jul 2026 close.

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Valuation

#	Point	Reading	Tag	Commentary
1	P/E (trailing 12 months)	23.2×	Neutral	At ₹372.10 the market valued the company at about ₹1,18,951 crore, or 23.2× the ₹5,117 crore profit of the four quarters to Mar 2026. That is a moderate multiple. How to read: Information only. Below 15 is a low multiple, 15–30 moderate, above 30 a premium (the market expects growth). Compare with peers and the company’s own history.
2	Price / Book	3.01×	Neutral	Market cap was 3.01× the Mar 2026 book value (equity + reserves) of ₹39,468 crore. How to read: Information only. Main yardstick for banks; asset-light businesses usually trade at high P/B.
3	Price / Sales	1.91×	Neutral	The company was valued at 1.91× its trailing-12-month sales of ₹62,428 crore. How to read: Information only.
4	EV / EBITDA (approx.)	15.6×	Neutral	Enterprise value (market cap + ₹76,141 cr borrowings; cash not netted) was 15.6× trailing operating profit of ₹12,521 crore. How to read: Information only. Lower means cheaper relative to operating profit.
5	Earnings yield	4.3%	Neutral	The inverse of P/E: each ₹100 invested bought about ₹4.3 of annual earnings. Investors often compare this with the ~6–7% yield on 10-year government bonds. How to read: Information only. Often compared with the ~6–7% yield on 10-year government bonds.
6	PEG (P/E ÷ 3-yr profit CAGR)	2.25	Bearish	P/E of 23.2 divided by 3-year profit growth of 10.3% a year gives a PEG of 2.25. Below 1 is often read as growth being cheaply priced; above 2 as expensive. Bullish below 1 (growth cheaply priced) · Bearish above 2 (growth expensively priced) · Neutral 1–2, or when profit did not grow (not meaningful).
7	Dividend yield (trailing 12M)	0.67%	Neutral	Dividends with ex-dates in the 12 months to the snapshot totalled ₹2.5 a share, a 0.67% yield on the ₹372.10 price. Bullish above 3% · Neutral at 3% or less. Never tagged Bearish.
8	Market capitalisation	₹1,18,951 cr	Neutral	At about ₹1.19 lakh crore the company was a large-cap. How to read: Information only. Above ₹1 lakh crore large-cap, ₹30,000 crore–₹1 lakh crore mid-cap, below that small-cap (our rule of thumb).
9	Graham number vs price	₹210.87 vs ₹372.10	Neutral	Benjamin Graham's conservative fair-value yardstick √(22.5 × EPS × book value per share) came to ₹210.87; the price was 76% above it. Quality franchises usually trade above this number. Bullish price below the Graham number · Neutral when the price is above it (most quality companies are).

B. Growth

#	Point	Reading	Tag	Commentary
10	Revenue growth FY26 (YoY)	-4.7%	Bearish	Revenue for FY26 was ₹62,429 crore, -4.7% versus FY25. Bullish above 10% · Bearish below 0% (revenue fell) · Neutral 0–10%.
11	Q4 FY26 revenue growth (YoY)	-12.8%	Bearish	The Jan–Mar 2026 quarter brought ₹14,900 crore of revenue, -12.8% on the same quarter a year earlier. Bullish above 10% · Bearish below 0% · Neutral 0–10%.
12	Net profit growth FY26 (YoY)	+7.2%	Neutral	FY26 net profit was ₹5,118 crore, +7.2% on FY25's ₹4,775 crore. Bullish above 10% · Bearish below 0% · Neutral 0–10%. Caution if a one-off item distorted the figure.
13	Q4 FY26 profit growth (YoY)	+8.4%	Neutral	Quarterly profit was ₹1,416 crore versus ₹1,306 crore a year earlier (+8.4%). Bullish above 10% · Bearish below 0% · Neutral 0–10%.
14	Revenue CAGR (3 years)	4.2%	Bearish	Revenue compounded at 4.2% a year from FY23 to FY26. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%. Caution if an acquisition inflated it.
15	Profit CAGR (3 years)	10.3%	Neutral	Net profit compounded at 10.3% a year from FY23 to FY26. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
16	Revenue CAGR (5 years)	13.8%	Bullish	Over five years (FY21–FY26) revenue compounded at 13.8% a year. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
17	EPS growth FY26 (reported)	-5.6%	Bearish	Reported EPS went from ₹12.43 to ₹11.73 (-5.6%). Differences from profit growth come from changes in share count (bonus, buyback, new issues). Bullish above 10% · Bearish below 0% · Neutral 0–10%.

C. Profitability

#	Point	Reading	Tag	Commentary
18	Operating margin FY26	21%	Neutral	Operating profit (EBITDA) was 21% of sales in FY26 versus 19% in FY25. How to read: Information only — normal margins differ a lot by industry.
19	Operating margin trend (4 quarters)	20% → 21% → 22% → 17%	Bearish	Quarterly margins moved from 20% to 17% over the last four quarters — contracting. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral when broadly stable.
20	Net profit margin FY26	8.2%	Neutral	₹8.2 of every ₹100 of revenue ended up as net profit in FY26. How to read: Information only.
21	Return on equity FY26	13.6%	Neutral	FY26 profit was 13.6% of average shareholders' equity. Above ~15% is generally considered good; below 10% weak. Bullish above 18% · Bearish below 10% · Neutral 10–18%. Around 15% or more is generally considered good.
22	ROCE FY26	11%	Neutral	Return on capital employed (debt + equity) was 11% in FY26. Bullish above 20% · Bearish below 10% · Neutral 10–20%.
23	Return on assets FY26	2.93%	Neutral	Net profit was 2.93% of total assets. Bullish banks only: 1.5% or more · Bearish banks only: below 1% · Information only for non-banks.
24	Effective tax rate FY26	23%	Neutral	The company paid about 23% of pre-tax profit as tax; India's base corporate rate is ~25%. How to read: Information only. India’s base corporate rate is about 25%.
25	Other income share of pre-tax profit	52%	Caution	Non-operating 'other income' of ₹3,433 crore made up 52% of pre-tax profit — a large share, so core earnings were lower than headline profit. How to read: Caution above 25% (headline profit leans on non-core income). Neutral otherwise.

D. Balance sheet

#	Point	Reading	Tag	Commentary
26	Debt / equity	1.93	Bearish	Borrowings of ₹76,141 crore were 1.93× equity — high leverage. Bullish below 0.3 (very low leverage) · Bearish above 1 (high leverage) · Neutral 0.3–1.
27	Debt / EBITDA	5.74×	Bearish	Debt equalled 5.74 years of FY26 operating profit. Bullish below 1× · Bearish above 3× · Neutral 1–3×.
28	Interest coverage	2.3×	Bearish	Earnings before interest and tax covered interest cost 2.3 times. Bullish above 8× · Bearish below 3× · Neutral 3–8×, or not meaningful when interest is negligible.
29	Book value growth	+10.1%	Bullish	Shareholders' equity grew +10.1% from ₹35,841 crore to ₹39,468 crore in FY26. Bullish above 10% (banks: above 12%) · Bearish below 0% (non-banks only) · Neutral otherwise.
30	Capital work in progress	₹14,595 cr (17% of fixed assets)	Neutral	Projects under construction (CWIP) were 17% of fixed assets — a modest pipeline. How to read: Information only. Above 20% means a big expansion pipeline that is not yet earning.
31	Working capital days	-138 days	Neutral	Working capital tied up equalled -138 days of sales (FY25: -165). Negative means suppliers/customers fund operations. How to read: Information only. Lower is generally more efficient; negative means suppliers or customers fund the business.
32	Cash conversion cycle	26 days	Neutral	It took 26 days to turn inventory and receivables into cash, net of supplier credit. How to read: Information only. Shorter is generally better.
33	Debtor days	26 (FY25 32)	Neutral	Customers took 26 days on average to pay, versus 32 a year earlier. How to read: Caution when debtor days rose more than 20% in a year (collections stretching). Neutral otherwise.

E. Cash flow

#	Point	Reading	Tag	Commentary
34	Operating cash flow FY26	₹5,993 cr	Neutral	The business generated ₹5,993 crore of operating cash in FY26 versus ₹12,680 crore in FY25. Bullish positive and higher than the year before · Bearish negative · Neutral when positive but lower. Information only for banks.
35	Free cash flow FY26	₹5,993 cr	Bullish	After capital spending, free cash flow was ₹5,993 crore. Bullish positive · Bearish negative · Neutral when not available.
36	Cash conversion (CFO ÷ net profit)	1.17×	Bullish	Operating cash flow was 1.17× reported profit — profits were well backed by cash. Bullish above 1× (profits well backed by cash) · Caution below 0.7×. Neutral 0.7–1×.
37	Free-cash-flow yield	5.0%	Bullish	FY26 free cash flow was 5.0% of the snapshot market cap. Bullish above 4% · Neutral at 4% or less.
38	Free cash flow — 3-year total	₹18,083 cr	Bullish	Free cash flow over FY24–FY26 added up to ₹18,083 crore. Bullish positive total · Bearish negative total · Neutral when not available.
39	Capex FY26 (CFO – FCF)	₹0 cr	Neutral	Implied capital expenditure was about ₹0 crore, 0.0% of sales. How to read: Information only.

F. Dividends & shareholder returns

#	Point	Reading	Tag	Commentary
40	Dividend payout ratio FY26	21%	Neutral	The company paid out about 21% of FY26 profit as dividends. How to read: Information only. High payout suits mature businesses; growing firms often keep more.
41	Dividend consistency (3 years)	17% / 18% / 21%	Bullish	Payout ratios for FY24 / FY25 / FY26 — dividends were paid every year. Bullish paid every year · Neutral when irregular. Never tagged Bearish.
42	Share capital change (FY25→FY26)	+0.0%	Neutral	Paid-up equity capital changed +0.0% (₹320 cr → ₹320 cr). Essentially unchanged — no dilution. Bullish fell 1% or more (a buyback) · Caution when it rose 1% or more (new shares issued). Neutral when unchanged, or for a bonus/split.

G. Ownership

#	Point	Reading	Tag	Commentary
43	Promoter holding	46.86% (+0.00 pts YoY)	Neutral	Promoters owned 46.86% at Mar 2026 versus 46.86% a year earlier. Bearish fell more than 1 percentage point in a year · Neutral otherwise. Never tagged Bullish.
44	Foreign institutional holding	10.04% (+0.66 pts YoY)	Neutral	FIIs held 10.04% at Mar 2026, up from 9.38% a year before. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
45	Domestic institutional holding	17.98% (+2.11 pts YoY)	Bullish	Mutual funds, insurers and other DIIs held 17.98%, up from 15.87%. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
46	Number of shareholders	41.1 lakh (-12.0% YoY)	Neutral	The shareholder count moved from 46.7 lakh to 41.1 lakh in a year — a rough gauge of retail interest. How to read: Information only — a rough gauge of retail interest.
47	Promoter pledge	none reported	Neutral	Our source showed no pledged promoter shares. How to read: Information only. Any sizeable pledge is a risk to note.

H. Quality & summary

#	Point	Reading	Tag	Commentary
48	Financial health checklist (Piotroski-style, 8 tests)	5/8	Neutral	Passed: positive profit, positive operating cash flow, CFO > net profit, operating margin improved, no meaningful dilution (<3%). Failed: leverage fell, ROA improved, asset turnover improved. Bullish all tests passed, or all but one · Bearish half the tests or fewer passed · Neutral in between.
49	Automated screen flags	2 strength(s) · 3 weakness(es)	Neutral	Strengths: Company has been maintaining a healthy dividend payout of 18.9%; Debtor days have improved from 33.9 to 25.9 days. Weaknesses: Stock is trading at 2.77 times its book value; Company has a low return on equity of 11.0% over last 3 years; Earnings include an other income of Rs.4,318 Cr. (Flags generated by the data source’s rule screen.) How to read: Information only.
50	Fundamental summary	8 bullish · 9 bearish · 31 neutral · 1 caution	Neutral	On the numbers published by 08 Jul 2026 the fundamental picture was mixed. Valuation: P/E 23.2×, P/B 3.01×. This describes the data, not a recommendation. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 4 or more and are at least 1.5× as many (“positive”) · Bearish the same the other way round (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

News in the three months before the snapshot

Company news from 08 Apr 2026 – 08 Jul 2026 that an investor could have known on the snapshot date.

12 May 2026 Tata Power Q4 Profit Rises 8% To ₹1,416 Crore Despite Revenue Decline; FY26 PAT Tops ₹5,100 Crore — Q4 FY26 consolidated net profit Rs 1,415.5 crore (+8.4% YoY) on revenue from operations of Rs 14,900.2 crore vs Rs 17,095.9 crore a year earlier; FY26 PAT Rs 5,117.6 crore; board recommended final dividend of Rs 2.50 per share. source
13 May 2026 Q4 Results: Tata Power Falls 5% On Profit Slip Even As Brokers Maintain Positive View on Stock — Shares fell as much as 5% intraday after Q4 results; article cites a 39% fall in hydro and thermal segment profit linked to a shutdown of a Gujarat plant and an approx. 13% decline in revenue. source
26 May 2026 Tata Power Dividend Tax Communication; Shares Rise 2.72% — Company sent shareholders a TDS communication for the proposed Rs 2.50 dividend; record date June 23, 2026, payment July 10, 2026, subject to AGM approval on July 7, 2026. source
21 Jun 2026 Tata Power's nuclear plan hits land hurdle in Odisha — Report says land availability issues affect the proposed nuclear project in Odisha; company is exploring sites in Gujarat and Madhya Pradesh and is in talks with NPCIL on 220 MW Bharat Small Reactors. source
07 Jul 2026 Tata Power Shareholders Approve All Resolutions at 107th AGM, Dividend Cleared — Shareholders approved all seven resolutions at the virtual 107th AGM, including the FY26 dividend and reappointment of Chairman N. Chandrasekaran (95.82% in favour). source
07 Jul 2026 Tata Power Sets ₹1 Lakh Crore Revenue Target with Nuclear Expansion Plans by 2030 — At the AGM the chairman outlined targets of Rs 1 lakh crore revenue and Rs 10,000 crore profit by 2030, a planned 10 GW solar manufacturing project in Odisha, and SMR feasibility studies. source

What happened next (08 Jul 2026 → 09 Oct 2026)

Price went from ₹372.10 to ₹342.15 by 09 Oct 2026 (-8.0%) while the Nifty 50 moved -5.7% — underperforming by 2.3 points.
Highest ₹390.40 on 14 Aug 2026; lowest ₹333.60 on 09 Oct 2026.
S1 358.05: broken on a closing basis on 27 Aug 2026.
S2 348.40: broken on a closing basis on 31 Aug 2026.
R1 372.30: cleared on a closing basis on 09 Jul 2026.
R2 399.91: not cleared on a closing basis.
200-day SMA: price was below it at the snapshot and stayed on the same side through the period.
Apr–Jun 2026 results (reported 27 Jul 2026): revenue ₹19,051 crore (+5.6% YoY), net profit ₹1,401 crore (+11.0% YoY), operating margin 20% vs 20% a year earlier (Screener consolidated figures).

Later news

20 Jul 2026 Tata Power's order book swells as firm wins Rs 351.3 crore LoA from SECI — Letter of Award from SECI for pumped storage services from a 324 MW / 2,592 MWh plant for 40 years at an annual fixed charge of about Rs 351.3 crore; commissioning due within 36 months of the PPA effective date. source
27 Jul 2026 Tata Power Q1 profit rises 11% to Rs 1,176 crore; revenue up 6%, capex tops Rs 5,300 crore — Q1 FY27 results announced after market hours: profit attributable to owners Rs 1,175.93 crore (+10.95% YoY), revenue from operations Rs 19,051.26 crore (+5.64%), capex Rs 5,375 crore. source
12 Aug 2026 Tata Sons Chairman N Chandrasekaran resigns ahead of AGM; will not seek reappointment — Group-level report (IANS citing NDTV Profit sources) that the Tata Sons chairman, who also chairs Tata Power, will not seek reappointment; Tata Power shares fell 0.9% to Rs 376.60 in morning trade. source
27 Aug 2026 Tata Power Company Ltd Slides 2.82% — Automated market report: shares fell 2.82% to Rs 355.05 in early trade; stock down 4.36% over the past month; record high Rs 464.8 set on 28 April 2026. source

Educational summary. On 08 Jul 2026 the technical picture leaned negative and the fundamental picture was mixed. Over the next three months the stock moved -8.0% against -5.7% for the Nifty 50. Here the chart's message lined up with what followed. One case proves nothing on its own; the value is in seeing many cases over time. This page does not say whether to buy, sell or hold Tata Power today.

Method designed by Pawan Kumar Sharma, CPA · ACCA · CIA. Numbers are computed by our engine from the sources listed below.

Sources: daily prices — Yahoo Finance history pages; financials and shareholding — Screener.in (fetched 11 Oct 2026); index — Nifty 50 via Yahoo Finance; news — linked articles. Calculations by Manage Our Finance. Report a correction

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